Upon reflection, we find that the liberal policies that led to these generous civil service compensation time bombs are in many ways the very reason that that they have become unaffordable. Consider:But teachers should not, I suppose, be expected to be educated enough to understand such things.
To fund a huge civil service, you need a huge tax base, but the crippling red tape and rules produced by this huge civil service of regulation-generators have driven employers and jobs overseas at a frenetic pace, stunting the growth of that critical tax base.On and on it goes. Every benefit the civil servants have prized is under assault by the effects of the socialist programs of their own side of the aisle. Our government's very growth has been its undoing.
To finance a pension plan, you set aside money every year, and invest it in the stock market; but the recent assault on the private sector has robbed those Wall Street investments of their expected growth, even shrinking their value, requiring ever greater state contributions to meet their obligations.
To gain control of the healthcare industry and maintain their partnership with the trial lawyers, they passed ObamaCare, which has already caused massive increases in healthcare costs and has further damaged the economy... necessitating government's call to increase employee participation in the costs of these benefits at last.
Tuesday, February 22, 2011
An Immense Backfire